SteelPeak Wealth LLC Invests $320,000 in ARM Holdings PLC Sponsored ADR $ARM

SteelPeak Wealth LLC purchased a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,112 shares of the company’s stock, valued at approximately $320,000.

Other large investors have also made changes to their positions in the company. Rathbones Group PLC lifted its holdings in shares of ARM by 4,638.8% in the fourth quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after purchasing an additional 489,491 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in shares of ARM during the fourth quarter valued at $826,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ARM by 34.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock valued at $2,644,000 after buying an additional 6,232 shares in the last quarter. Partners Group Holding AG acquired a new position in ARM during the fourth quarter valued at $798,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in ARM by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 417,775 shares of the company’s stock valued at $45,667,000 after buying an additional 49,811 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

Shares of NASDAQ ARM opened at $267.19 on Monday. The business’s 50-day moving average price is $324.14 and its two-hundred day moving average price is $203.22. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The company has a market capitalization of $285.38 billion, a P/E ratio of 318.08, a price-to-earnings-growth ratio of 9.70 and a beta of 3.76.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The company had revenue of $1.49 billion for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. On average, equities analysts anticipate that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Insider Transactions at ARM

In other ARM news, insider Richard Roy Grisenthwaite sold 24,339 shares of ARM stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $209.15, for a total value of $5,090,501.85. Following the completion of the sale, the insider directly owned 5,543 shares in the company, valued at $1,159,318.45. The trade was a 81.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Abbey sold 10,887 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $224.14, for a total transaction of $2,440,212.18. Following the completion of the sale, the insider directly owned 43,353 shares of the company’s stock, valued at $9,717,141.42. This represents a 20.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 238,906 shares of company stock valued at $56,245,828 in the last ninety days.

Analyst Ratings Changes

A number of brokerages have commented on ARM. TD Cowen raised their price objective on ARM from $265.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Benchmark assumed coverage on ARM in a report on Thursday. They issued a “hold” rating on the stock. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a report on Wednesday, June 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 price objective (up from $135.00) on shares of ARM in a research report on Tuesday, April 7th. Finally, New Street Research lowered shares of ARM from a “buy” rating to a “neutral” rating in a research note on Thursday, June 18th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.96.

ARM Profile

Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.

Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.